“For a while, it not only brings people to the store like a kind of immersive magazine, but also unexpectedly or creatively to establish full authority to understand cultural and consumer trends. We used brand revitalization and collaboration and cultural programming, “she said.
Department stores also benefit from small chains, Green added. With three other stores in Birmingham and Manchester, you can increase your creativity.
As a recent example, the Oxford Street store has an area dedicated to second-hand goods, while another store offers rental clothing. Both reflect the company’s sustainability campaign.
“The way we buy something is changing, being driven by services and experience, and being part of the community,” says Green.
Still, the pandemics and other changes that are causing industry turmoil have been devastating. In July 2020, a privately held company cut 450 employees. That’s about 14 percent of our employees. Since death in April Geylang WestonThe chain, a Canadian billionaire who bought Selfridges in 2003, is reportedly put up for sale at £ 4 billion in UK and Irish stores within the group.
It has also been undoubtedly hit by the loss of international tourism, with only a slight recovery this year. Prior to the pandemic, foreign visitors accounted for 40% of Selfridges shoppers. According to local governments, Oxford Street in London is no longer a destination, walking traffic is still down by more than a third, and one in five stores is completely closed, making Selfridges a challenge in the country. Facing
The luxury market is expected to recover by the end of 2022 or early 2023, even if the past year and a half has been a pain for many retailers, according to a Bain & Company report. In Selfridges, so-called social spaces used for restaurants and experiences are often less profitable than luxury concessions, according to a report from The Business of Fashion. However, these features, such as gardening centers and live music from street performers, were important to the post-blockage identity of the chain. The London store has an “Experience Concierge” and plans to expand to regional stores later this year. Instead of gift vouchers for products, you can now give gifts of experiences such as skateboarding lessons and trips to the cinema.
Selfridges is now in the wedding business
Source link Selfridges is now in the wedding business